GoPro Inc's (GPRO.O) quarterly revenue plunged 47.4 percent, but beat analysts' estimates, which have been sharply lowered on shrinking demand for the company's body-mounted point-of-view cameras.
The company's shares were up 2.4 percent in volatile trading after the bell on Wednesday.
GoPro's revenue fell to $220.8 million in the second quarter ended June 30 from $419.9 million a year earlier.
Analysts on average were expecting revenue of $194.3 million, according to Thomson Reuters I/B/E/S.
That is about 20 percent lower than the estimate on May 5, when GoPro reported first-quarter results and delayed the launch of its Karma drone until the holiday season.
The company, whose cameras are worn by surfers, skydivers and other action junkies, said second-quarter units shipments rose 8 percent to 759,000 compared with the first quarter.
Its average selling price increased 11 percent sequentially and 14 percent on a year-over-year basis.
GoPro, however, maintained its full-year revenue guidance of $1.35 billion to $1.5 billion. Analysts on average were expecting revenue of $1.34 billion.
GoPro posted a loss of $91.77 million, or 66 cents per share, for the second quarter compared with a profit of $35.03 million, or 24 cents per share, a year earlier.
Excluding items, GoPro lost 52 cents per share in the latest quarter, less than analysts' estimates of 58 cents.
By: Reuters.
Reporting: Ismail Shakil and Anya George Tharakan (Bengaluru).
Editing: Savio D'Souza.
Photo 1: New York Daily News.
Photo 2: Up Labs.
Photo 3: Pinterest.
Review: Emerging Market Formulations & Research Unit, FLAGSHIP RECORDS.
For The #FacebookTeam